secwatch.observer — SEC 8-K summary
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Issuer:     COGNIZANT TECHNOLOGY SOLUTIONS CORP (CTSH)
CIK:        0001058290
Form:       8-K
Filed at:   2023-03-06T23:59:59+00:00
Accession:  0001058290-23-000092
Event type: other_material
Sentiment:  neutral
Materiality: 0.40
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cognizant adopts severance policy capping cash payouts at 2.99x; board committee reshuffled
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- New Senior Executive Cash Severance Policy caps cash severance at 2.99x base salary plus target bonus without stockholder approval.
- Policy requires stockholder approval for any severance exceeding that limit; change-in-control severance tied to actual termination.
- Eric Branderiz appointed to Audit and Compensation Committees; Nella Domenici to Finance/Strategy and Governance/Sustainability.
- Michael Patsalos-Fox removed from Governance/Sustainability; Stephen Rohleder appointed; Vinita Bali moved from Finance/Strategy to Governance/Sustainability.
- Maureen Breakiron-Evans will not stand for re-election at 2023 annual meeting.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1058290/000105829023000092/0001058290-23-000092-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1058290/000105829023000092/ctsh-20230306.htm
  HTML page:      https://secwatch.observer/filing/0001058290-23-000092

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